Individualized Equity Lending programs designed to assist lenders with creating new revenue and positive loan growth while managing risk.
The Equity Protection Program creates more loan opportunities and measurable growth for your home equity portfolio by expanding your LTV and guideline parameters, allowing you to safely increase the loan offerings available to your borrowers. If an unexpected default happens, you simply file a claim without going through the foreclosure process.
How it Works
We individually underwrite each lender to design a customized pricing structure and set of underwriting guidelines that suit both your risk tolerance and lending needs. These delegated guidelines can include:
Combined loan-to-values up to 100%.
Debt-to-income ratios as high as 45%.
FICO scores as low as 660 for most loans and lines of credit.
Loan amounts up to $250,000 per loan.
The program includes HELOCs, Closed End, and Purchase Money loans. It also provides three tiers of home improvement loans including a 133% CLTV Secured Home Improvement as well as two Unsecured Home Improvement loan types.
Why it Works
Each lender determines their CLTV range & guideline limits.
There are no monthly premiums or implementation fees.
There is no direct cost to the lender as premiums are passed through via the interest rate.
Many lenders are also able to reduce their loss reserves.
Your risk of loan default is transferred; claims are paid for 100% of the outstanding balance, subject to the coverage limits, eliminating costly foreclosure and REO expenses which improve your balance sheet.
How it Works
We individually underwrite each lender to design a customized pricing structure and set of underwriting guidelines that suit both your risk tolerance and lending needs. These delegated guidelines can include:
Combined loan-to-values up to 100%.
Debt-to-income ratios as high as 45%.
FICO scores as low as 660 for most loans and lines of credit.
Loan amounts up to $250,000 per loan.
The program includes HELOCs, Closed End, and Purchase Money loans. It also provides three tiers of home improvement loans including a 133% CLTV Secured Home Improvement as well as two Unsecured Home Improvement loan types.
Why it Works
Each lender determines their CLTV range & guideline limits.
There are no monthly premiums or implementation fees.
There is no direct cost to the lender as premiums are passed through via the interest rate.
Many lenders are also able to reduce their loss reserves.
Your risk of loan default is transferred; claims are paid for 100% of the outstanding balance, subject to the coverage limits, eliminating costly foreclosure and REO expenses which improve your balance sheet.
Quick & Easy Implementation
Our product has been developed to seamlessly integrate into your existing workflows and procedures.
Getting started requires no technical integrations, no project team and does not interfere with existing projects.
Lenders can begin offering their expanded loan options within a matter of days.
Being able to offer high CLTV financing to our members while minimizing the risk to the Credit Union is a win-win!
Charles, Financial Resources Federal CU
The service levels are excellent, and the response times are exceptional.
Basil, McCoy Federal CU
Launching our NFP Insured Home Equity program was one of the easiest implementations to bring new products to our members we have ever done.
Kyle, LGE Community CU
It’s an additional product to offer to our membership and sets us apart from other lending institutions.
Christine, Members First CU
The process is easy, the products are unique and the service is quick and friendly.
Dana, First Coast Community CU
By offering these products it has set us apart even further from our competitors and allowed us to grow our portfolio, as well as further support our customers and their needs.
Ian, Glen Falls National Bank and Trust Company
Superior Service
Our team has over 150 years of combined experience in all aspects of Underwriting, Insurance, and Sales.
Comprehensive training and ongoing support for your staff are always available, and we take pride in our reputation for providing excellent service.
Introducing our new Lien Protection Program
Reduce origination expenses and close home equity loans and lines of credit faster... knowing that your lien position is protected.
